Royal Enfield Complete Income Rises To Rs. 2,341 Crore In Third Quarter – NDTVAuto.com
Royal Enfield gross sales have been beneath marginal strain within the final three months of 2018, however the firm nonetheless bought 1.93 lakh bikes.
Royal Enfield bought 1.93 bikes from October to December 2018
Eicher Motors Restricted (EML), the mum or dad firm of Royal Enfield, has introduced the monetary outcomes for the third quarter of the present monetary yr, from October to December, 2018. On this quarter, Royal Enfield’s complete income from operations grew by three per cent, up from ₹ 2,269 crore in the identical interval a yr in the past, to ₹ 2,341 crore. Earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) was ₹ 680 crore, down by 6 per cent from ₹ 707 crore in the identical interval a yr in the past. Revenue after Tax (PAT) grew by 2 per cent to ₹ 533 crore from ₹ 521 crore in the identical interval. Royal Enfield’s gross sales of bikes although, felt some strain within the third quarter. In all, Royal Enfield bought 1,93,871 bikes within the quarter, a decline of 6 per cent from 2,02,736 bikes a yr in the past.
The Royal Enfield Traditional 350 is the only largest promoting mannequin
Commenting on Royal Enfield’s efficiency, Siddhartha Lal, Managing Director and CEO Eicher Motors Ltd, mentioned, “The latter half of 2018 was a difficult interval for the two-wheeler trade in India. Components like elevated insurance coverage necessities, rising uncooked materials prices and the next worth improve attributable to regulatory security necessities impacted the momentum of the trade. Royal Enfield’s market share recorded enchancment on a sequential foundation, whereas volumes within the quarter have been impacted. We imagine it is a short-term affect attributable to a worth reset. We proceed to stay optimistic concerning the development of premiumisation within the motorcycling trade, and are assured that this development will proceed sooner or later.”
The Royal Enfield 650 Twins have been launched within the third quarter of 2018-19
Royal Enfield’s newest merchandise, the brand new 650 Twin bikes – the Interceptor 650 and the Continental GT 650 – have been launched within the third quarter of the present monetary yr. Throughout the quarter, the 650 Twins have been additionally launched within the UK and Europe, on the EICMA motorbike present in Milan, Italy, and in addition in Thailand, Indonesia, Brazil, Colombia, and Australia. Whereas retail gross sales have already begun in India, deliveries within the world markets are anticipated to start quickly.
Within the business autos phase, Eicher’s three way partnership with AB Volve, VE Business Autos (VECV) was affected by trade slowdown. VECV’s income from operations rose by 9 per cent to ₹ 2,818 crore, from ₹ 2,590 crore throughout the identical interval a yr in the past. VECV bought 16,936 vehicles and buses within the quarter, rising four per cent over the identical interval a yr in the past.
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